You’ve probably seen one of the many commercials on television where an actor of a “certain age”, most likely popular during the target audiences “formative” years, is touting a reverse mortgage.
What exactly is a reverse mortgage? How does it work? Is it something that you might benefit from?
Here is a great article from MoneyTalksNews that has the answers to what a reverse mortgage is, what the costs are, and the pitfalls to look out for. There is also a link in the article that will help you to calculate your costs, and the amount of money that you could qualify for.
As with any major financial decision, you should do your homework to make sure that a Reverse Mortgage is right for you.